Asian Age

SEZs will boost job growth: Nath

November 27, 2006

New Delhi: Union minister of commerce and industry, Kamal Nath said on Monday at the India Economic summit that Special Economic Zones (SEZ) will boost employment and allow Indian companies operating within the SEZs to compete globally.

Also on Monday, Congress president Sonia Gandhi, in an address at the summit said that alliance of public sector, civil society and industry are needed for "social transformation".

Striking a positive note for the SEZs, Mr. Nath said, "One of the major initiatives taken this year has been the facilitation of the SEZs. They offer tax incentives for manufacturing and services export and provide an enabling environment for the private sector to develop world-class standards of infrastructure and facilities."

Mr. Nath also said that SEZs will allow companies operating within them to compete globally. Pointing out that India has emerged as a manufacturing hub of the world, Mr. Nath said that the growth was becoming increasingly inclusive "Rural India today is consuming more TVs, refrigerators, computers, cars, mobile phones, packaged food and consumer durables today than ever before", he said.

Speaking on the WTO impasse, Mr. Nath said that the world of tomorrow would not be a world of tariffs but a world of rules. "We are willing to negotiate commerce but not subsistence", he said this categorically, referring to India’s stand on agriculture.

At the Economic summit, Congress president Sonia Gandhi talked of the need for collaboration between public sector, civil society and industry to usher in social transformation. "An alliance of the public sector and civil society is necessary for social transformation. Industry must be an integral part of such an alliance," she said. She also added that there was a need for greater effort and sustained commitment by Indian industry in social initiatives.

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